...All State Ratings Now Stable: For the first time since the 2008-2009 downturn, all of Fitch Ratings' ratings on U.S. states carry a Stable Rating Outlook, indicating stable credit trends for the coming year. State Revenues Track Economy: State revenues closely track economic cycles and continued slow economic growth has meant continued slow growth in state revenues. As the economic experience has varied by state, so have revenue trends. Forecasts remain cautious. Budgeting Conflicts Increase: Budget negotiations in numerous states were marked by increased contention in 2015, with lingering stalemates in two. That dynamic seems likely to continue for reasons both ideological and practical. Budget managers face ongoing demands for additional spending on one side and tax relief on the other and the pace of revenue growth is insufficient to satisfy all. Natural Resource States Pressured: Fitch expects soft prices for crude oil and natural gas to continue to moderate production, dampening energy...
